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Tuesday, December 15, 2009

the-lure-of-store-credit-cards-and-the-hook: Personal Finance News from Yahoo! Finance

the-lure-of-store-credit-cards-and-the-hook: Personal Finance News from Yahoo! Finance

Offers of additional discounts and no-interest purchases may come with many pitfalls

Politics, Political News - POLITICO.com

Politics, Political News - POLITICO.com

Conservatives grab for Tea Party cash

CNN.com - Breaking News, U.S., World, Weather, Entertainment & Video News

CNN.com - Breaking News, U.S., World, Weather, Entertainment & Video News

Illinois Gov. Pat Quinn and Sen. Richard Durbin go to the White House today to discuss using an Illinois prison to house detainees from Guantanamo Bay

Media Matters Daily Summary




 
Media Matters for America
Here are today's news items from Media Matters for America, click on the title or 'read more' to read the entirety of each story.
Fox & Friends crops economic adviser's comments to claim "mixed messages" on recession
On Fox & Friends, guest host Peter Johnson Jr. said there is an "amazing disconnect" between White House economic advisers Christina Romer and Larry Summers over whether or not the recession is over, after he aired clips of Summers saying that "everybody agrees that the recession is over" and Romer saying that, in her mind, "of course" the recession is not over. However, Fox & Friends omitted the part of Romer's comments in which she said we've "reached" the end of the recession according to "the official definition," "at least in terms of GDP" -- a statement that is consistent with Summers' remarks. Read More
Fox & Friends off the rails on claim that stimulus money went to "save" Napa wine train
Trumpeting a report by Sen. John McCain and Sen. Tom Coburn on "wasted" stimulus funds, Fox & Friends hosts Steve Doocy, Gretchen Carlson, and Peter Johnson Jr. repeatedly claimed that $54 million in stimulus money went to "save" a wine-tour train in Napa Valley, when in fact, the funds are for an Army Corps of Engineers project "designed to minimize flooding of downtown Napa," which requires the relocation of the Wine Train. Read More
In return to Jennings beat, FoxNews.com's Lott rehashes book smear
In an article headlined "Obama's Safe Schools Czar Tied to Lewd Readings for 7th Graders," FoxNews.com's Maxim Lott reported that Department of Education official Kevin Jennings "is under fresh attack after it was revealed that the pro-gay group he formerly headed recommends books his critics say are pornographic." But Lott did not note until the 13th paragraph of his article that the list of books recommended by the Gay, Lesbian, and Straight Education Network (GLSEN) for grades 7-12 included the disclaimer that they "contain mature themes" and the recommendation that "adults selecting books for youth review content for suitability"; moreover, at least two of the "critics" cited by Lott have a history of anti-gay bigotry. Read More
Quick Fact: Rove baselessly claims stimulus package "impeded" the economic recovery
On The O'Reilly Factor, Fox News contributor Karl Rove baselessly claimed that "the stimulus bill was not stimulative" and that he thought Obama's policies "impeded the recovery." But the Congressional Budget Office estimated that stimulus spending through September had saved or created as many as 1.6 million jobs and added as much as 3.2 percent to U.S.gross domestic product. Read More
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Hannity lets Bachmann advance dubious claim that Christina Romer projected "5.5 million jobs lost" under health care bill




 
Media Matters for America

Hannity lets Bachmann advance dubious claim that Christina Romer projected "5.5 million jobs lost" under health care bill

On his Fox News show, Sean Hannity allowed Rep. Michele Bachmann (R-MN) to baselessly claim that health care reform would "mean 5.5 million jobs lost and that's according to his own economist, Christina Romer." Hannity and Bachmann cited no evidence to support the claim, which Politifact has called false and "problematic"; the claim is further undermined by Romer's prediction that health care reform "would allow lower unemployment in the short and medium run."

Bachmann: "President Obama's bill will mean 5.5 million jobs lost, and that's according to his own economist, Christina Romer"

From the December 14 edition of Fox News' Hannity:
BACHMANN: We need bipartisan reform, and we Republicans are there ready, willing, and able. We want bipartisan reform. Let's scrap what we have and let's move forward, because President Obama's bill will mean 5.5 million jobs lost, and that's according to his own economist, Christina Romer.
HANNITY: Congresswoman, you have the distinction of being the second-most hated Republican woman in the country. And I --
BACHMANN: Or second-most loved.
HANNITY: Or the second-most loved. That's fair enough. Does it bother you, all the heat and the criticism you've been taking?

No evidence that Romer ever claimed health care reform would "mean 5.5 million jobs lost"

Politifact: Claim is "problematic and contrary to how Obama's economic adviser said the model should work." According to PolitiFact.com:
Obama's economic adviser -- Christina Romer, chair of the White House Council of Economic Advisers -- has never said that a tax in the health care bill would cost up to 5.5 million jobs. Republicans have used her 2007 research to develop a calculation for job losses for any type of tax increase. If you have a number for tax revenues generated, then this model will give you a number of jobs lost. But there are factors that make this type of analysis troublesome when it comes to the health care bill. Romer's 2007 research, for example, said that tax increases that fund spending for social programs tend to balance out, and economic growth stays on an even keel. Another problem is that the Republicans take tax increases that happen over 10 years and treat them as if they happen in one year, which inflates the numbers of jobs that might be lost. Finally, this particular Republican analysis includes more taxes than just the surtax of page 336; it also includes the employer mandates of page 313. We find this analysis to be problematic and contrary to how Obama's economic adviser said the model should work. [PolitiFact.com, 11/4/09]
Romer: "Health care reform is an economic necessity." In a June 2, 2009, op-ed, Romer wrote:
Health care reform is more than a social imperative -- it is an economic necessity. A new study by the President's Council of Economic Advisers demonstrates that the current American health care system is on an unsustainable path. Without health care reform, American workers and families will continue to experience eroding health care benefits and stagnating wages caused by the pressure of escalating health insurance premiums. And without reform, rising spending on Medicare and Medicaid will lead to massive and unsustainable Federal budget deficits. [Romer op-ed, Yahoo! News, 6/2/09]
Romer: Health care reform will "allow lower unemployment." Romer also wrote in her op-ed, "Controlling health care cost growth would allow lower unemployment in the short and medium run, without putting pressure on inflation. Employment could be 500,000 higher for a number of years." [Romer op-ed, Yahoo! News, 6/2/09]
Contact:
Sean Hannity
hannity@foxnews.com
http://twitter.com/hannityshow

Contact:
Fox News Channel
FOX News Channel
1-888-369-4762
1211 Avenue of the Americas
New York, NY 10036
http://twitter.com/foxnews

Contact:
Hannity
http://twitter.com/hannityshow

You can help support our work; become a volunteer media monitor, or donate to Media Matters for America.